Video Technologies Pvt. Ltd., an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC) seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Akash Pack Tech. Pvt. Ltd., the corporate debtor, due to its inability to liquidate outstanding dues. The operational creditor claimed that it supplied printers to the corporate debtor, raising invoices amounting to Rs. 19,81,771/- between 15.04.2017 and 15.06.2017. Despite the amount being payable within 30 days, the corporate debtor failed to make any remittance. Five cheques issued as payments were dishonored due to insufficient funds. The operational creditor issued a demand notice under Section 8 of the IBC, demanding Rs. 21,72,854/- which included the
…Video Technologies Pvt. Ltd. (Operational Creditor) supplied printers to Akash Pack Tech. Pvt. Ltd. (Corporate Debtor). Seven invoices were raised between 2017-04-15 and 2017-06-15, totaling Rs. 19,81,771. The Corporate Debtor failed to pay within 30 days. Five payment cheques were dishonored due to insufficient funds. A demand notice was issued under Section 8 of the IBC, claiming Rs. 21,72,854 (principal and interest). The Corporate Debtor made part payments of Rs. 4,00,000 and Rs. 2,00,000 on 2018-02-01 and 2018-04-09, respectively, reducing the claimed amount to Rs. 15,72,854. Despite service, the Corporate Debtor did not appear, leading to ex parte proceedings. The failure to liquidate the debt and the absence of any dispute were key factors in admitting the
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Video Technologies Pvt. Ltd., an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC) seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Akash Pack Tech. Pvt. Ltd., the corporate debtor, due to its inability to liquidate outstanding dues. The operational creditor claimed that it supplied printers to the corporate debtor, raising invoices amounting to Rs. 19,81,771/- between 15.04.2017 and 15.06.2017. Despite the amount being payable within 30 days, the corporate debtor failed to make any remittance. Five cheques issued as payments were dishonored due to insufficient funds. The operational creditor issued a demand notice under Section 8 of the IBC, demanding Rs. 21,72,854/- which included the
…Video Technologies Pvt. Ltd. (Operational Creditor) supplied printers to Akash Pack Tech. Pvt. Ltd. (Corporate Debtor). Seven invoices were raised between 2017-04-15 and 2017-06-15, totaling Rs. 19,81,771. The Corporate Debtor failed to pay within 30 days. Five payment cheques were dishonored due to insufficient funds. A demand notice was issued under Section 8 of the IBC, claiming Rs. 21,72,854 (principal and interest). The Corporate Debtor made part payments of Rs. 4,00,000 and Rs. 2,00,000 on 2018-02-01 and 2018-04-09, respectively, reducing the claimed amount to Rs. 15,72,854. Despite service, the Corporate Debtor did not appear, leading to ex parte proceedings. The failure to liquidate the debt and the absence of any dispute were key factors in admitting the
…First invoice raised by…
Last invoice raised by…